The Company considers that the award of options linked to the Company’s performance is critical to the incentivisation of its employees and to ensure that there is alignment between management and shareholders.
To this end, the Company today confirms that it has agreed to issue 850,000 share options (the “Options”) over ordinary shares of 0.4p each in the Company (“Ordinary Shares”) to its non-director employees, under the Company’s existing Enterprise Management Initiative Employee Share Option Scheme (the “Scheme”) as detailed in this announcement.
Each Option issued will be exercisable at a price of 4.38p, being the greater of (i) the average closing price for the three dealing days immediately preceding the date of grant; and (ii) the closing price on the dealing day immediately prior to the date of grant, as prescribed in the terms of the Schemes.
The Options vest equally over a three-year period and can be exercised within 10 years of the date of grant.
Following this issue, there will be no change in the number of Options or in the holdings of ordinary shares of directors in the Company.
The total number of shares in issue remains 97,424,778 Ordinary Shares with voting rights attached (one vote per Ordinary Share). There are no Ordinary Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, Physiomics under the Disclosure and Transparency Rules.
Dr Jim Millen, CEO
+44 (0)1865 784 980
Hybridan LLP (broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Strand Hanson Ltd (NOMAD)
James Dance & James Bellman
+44 (0)20 7409 3494
Notes to Editor
Physiomics plc (AIM: PYC) is an oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The Company’s Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics’ technologies have been confirmed by over 80 projects, involving over 40 targets and 70 drugs, and has worked with clients such as Merck KGaA, Astellas, Merck & Co and Bicycle Therapeutics.